Despite gains in its digital advertising revenues, Lee Enterprises, Inc. today (8/3) reported overall operating revenues in the third quarter fell nearly 5 percent and net income per share was off 27 percent compared with the same period a year ago.

Lee – owner of the Quad City Times and Dispatch-Argus newspapers – had net income of $4.75 million (8 cents per share) for the three-month period ended June 24, compared with $6.29 million (11 cents per share) a year ago.

The company reported digital retail ad revenue was up 4.7 percent for the period and represented 34 percent of total advertising revenue for the third quarter. However, overall operating revenue was down 4.8 percent for the period, with advertising and marketing service revenue off 9.5 percent.

Operating expenses for the quarter decreased nearly 6 percent, according to the company's news release, thanks to lower cash costs that were 2.6 percent lower than the same period a year ago and an 8.5 percent reduction in compensation costs "primarily as a result of a reduction in staffing levels."

Lee is headquartered in Davenport and operates newspapers and online news sites in 49 markets.

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